When does a Form 433, Collection Information Statement, need to be completed?
Collection Information Statement(s) are required for doubt as to collectibility and effective tax administration OICs, and doubt as to liability involving Trust Fund Recovery Penalty assessments. Back To Top Are the forms available on-line? Yes. The forms needed to complete an OIC are available on-line. Also, forms may be obtained by calling 1-800-829-3676 or by visiting a local IRS office. Back To Top (REVISED 8/2004) What forms are submitted to request an effective tax administration OIC? To receive consideration on this basis, a taxpayer must submit: • The July 2004 version of Form 656, “Offer in Compromise” • The May 2001 version of the “Collection Information Statement” (Form 433-A and/or Form 433-B) • A detailed written narrative must be documented on Form 656, Item 9. The narrative must explain the exceptional circumstances and why payment of the tax liability in full would either create an economic hardship or demonstrate why there is compelling public policy or equity consider
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